While the economists don't directly call for pot legalization, the petition asks advocates on both sides to engage in an "open and honest debate" about the benefits of pot prohibition.

"At a minimum, this debate will force advocates of current policy to show that prohibition has benefits sufficient to justify the cost to taxpayers, foregone tax revenues, and numerous ancillary consequences that result from marijuana prohibition," the petition states.

The economic benefits of pushing pot into mainstream commerce have long been cited as a reason to make the drug legal, and the economists' petition comes as government officials at both the federal and local levels are looking for ways to raise funds. The majority of Americans say they prefer cutting programs to increasing taxes as a way to deal with the nation’s budget deficit -- marijuana legalization would seemingly give the government money without doing either.

Economist Stephen Easton wrote in Businessweek that the financial benefits of pot legalization may be even bigger than Miron's findings estimate. Based on the amount of money he thinks it would take to produce and market legal marijuana, combined with an estimate of marijuana consumers, Eatson guesses that legalizing the drug could bring in $45 to $100 billion per year. Easton’s name doesn't appear on the petition.

Some argue that the economic argument for pot legalization is already proven by the benefits states and cities have reaped from making medical marijuana legal. Advocates for Colorado's medical marijuana industry argue that legalization has helped to jumpstart a stalled economy in cities like Boulder and Denver, according to nj.com.

HuffPost Live will be taking a comprehensive look at America’s failed war on drugs August 28th and September 4th from 12-4 pm ET and 6-10 pm ET. Click here to check it out -- and join the conversation.

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Legal Marijuana Across The U.S.

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Legalized for medical use.
Flickr: alana sise

Legalized for medical use.
Flickr: Bill Ward's Brickpile

Legalized for medical use.
Flickr: gerbache

Also legalized possession by non-medical users.
Flickr: dok1

Legalized for medical use.

Legalized for medical use.
Flickr: ~MVI~ (off to coron)

Legalized for medical use.
Flickr: Doug Kerr

Legalized for medical use.
Flickr: Ricymar Fine Art Photography

Legalized for medical use.

Legalized for medical use.
Flickr: indywriter

Legalized for medical use.

Passed ballot initiative for legalized medical marijuana in 2012.

Legalized for medical use.
Flickr: ckay

Legalized for medical use.
Flickr: csbarnhill

Legalized for medical use.
Flickr: http2007

Legalized for medical use.

Legalized for medical use.
Flickr: psflannery

Legalized for medical use.
Flickr: michaelwhitney

Legalized for medical use.
Flickr: digging90650

Legalized for medical use. Also decriminalized possession of less than one ounce.